Daily ETF Roundup: ITA Tumbles On Boeing, IYG Rallies

ETF Database

Jul. 12, 2013, 5:22 PM

U.S. equities ended little changed today as investors digested a slew of corporate news and earnings, as well as Bernanke's commentary from earlier this week. JPMorgan Chase (JPM) reported earnings and revenue that were well above Wall Street expectations. Wells Fargo & Co. (WFC) also posted better-than-expected results, with profit rising 20% in the second quarter. Shares of Boeing (BA), however, tumbled after a fire broke out at London Heathrow Airport on one of the company's Dreamliner planes [see The Cheapest ETF for Every Investment Objective].

Global Market Overview: ITA Tumbles On Boeing, IYG Rallies

Following today's upbeat earnings reports, all three major U.S. equity indexes managed to close in positive territory. The Dow Jones Industrial Average ETF (DIA, A) slipped 0.14%, though its underlying index closed up 0.02% after being dragged down by Boeing. The S&P 500 ETF (SPY, A) inched 0.04% higher, while the tech-heavy Nasdaq ETF (QQQ, B+) gained 0.61%.

The U.S. Aerospace & Defense ETF (ITA, A-) was one of the worst performers today, shedding 0.66% during the session. Following news of a fire on one of Boeing's Dreamliner aircrafts, this ETF took a steep tumble during the afternoon hours. ITA eventually settled at $85.85 a share [see High Tech ETFdb Portfolio].

The U.S. Financial Services ETF (IYG, B+) was one of the best performers today, gaining 0.86% during the session. After JPMorgan Chase (JPM) and Wells Fargo & Co. (WFC) posted better-than-expected earnings results, this ETF gapped higher at the open. IYG traded higher throughout the day, eventually settling at $74.89 a share [see Financials Free ETFdb Portfolio].